Australia posts record trade surplus in Oct

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SYDNEY, Dec 4 (AFP): Australia posted a record trade surplus of nearly three billion dollars (1.94 billion US) in October, buoyed by a jump in exports and the decline of its currency, official figures showed today.
The seasonally adjusted 2.95-billion-dollar surplus was larger than expected thanks to a seven per cent surge in the value of exports, including a 20-per cent leap in coal shipments, according to the Australian Bureau of Statistics (ABS).
Imports were flat in October and economists said the falling in the value of the Australian dollar boosted the value of exports, more than off-setting a sharp drop in commodity prices.
Economists had expected a trade surplus of 1.6 billion dollars for the period.
Australia's international trade position has been in the black by more than one billion dollars for three months in a row, after failing to record any surplus at all for six years as the economy boomed.